That's All There Is - Earnings: VSN, PPL, VSN-PPL Merger, FC, NWH
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A lot is riding on the tax cuts in the US, possibly more than is warranted. Cheaper energy and increasing automation have been, and will continue as significant positives for economic growth. When combined with the proposed US tax cuts, US GDP could exceed 3%.
For this to be accomplished inflation needs to remain below 2%, and the overall credit quality of debt must remain strong. Economic comments this week focus on what is next for the US budget process, and the impact this could have on interest rates.
Updates include Veresen Inc.(VSN, VSN.PR.A,C,E), Pembina Pipeline Corp.(PPL, PPL.PR.A,C,E,G,I,K,M), Northwest Healthcare REIT (NWH.UN, NWH.DB, NWH.DB.A,B,C,D,E,F) and Firm Capital (FC, FC.DB.A, B,C,D,E,F,G). Both Veresen and Pembina announced earnings after confirming earlier in the week they intend to merge by 2017 year end. Pembina and Veresen have very similar petroleum infrastructure assets that include conventional oil and oil sands pipelines for Pembina and the Canadian Alliance natural gas pipeline for Veresen. Cost saving synergies alone is sufficient to justify the dividend increase that will happen once the merger is complete.
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